(RTTNews) - Elanco Animal Health Incorporated (ELAN), an animal healthcare company, Thursday reported net income of $364 million or $0.73 per share for the third quarter, compared with net loss of $1.096 billion or $2.22 per share in the same quarter a year ago, mainly helped by a gain of $640 million on divestiture. In addition, the last-year quarter had a goodwill impairment charge of $1.042 billion.
On an adjusted basis, net income was $66 million, or $0.13 per share, down from $90 million or $0.18 per share last year. On average, 10 analysts expected earnings of $0.12 per share. Analysts' estimates typically exclude special items.
Revenue for the quarter declined to $1.030 billion from $1.068 billion in the previous year. The consensus estimate was for $1.03 billion.
For the full year, the company has tightened its outlook. It now expects revenue in the range of $4.420 billion - $4.450 billion, compared with the previous outlook of $4.410 billion - $4.460 billion. Adjusted EPS outlook has been revised to $0.89 - $0.95 from $0.88 - $0.96. Analysts expect the company to report earnings of $0.92 per share on revenue of $4.43 billion for the year.
For the fourth quarter, Elanco Animal Health expects revenue of $1 billion - $1.030 billion and adjusted EPS of $0.13 - $0.18. The consensus estimate for revenue is $1.01 billion, and for EPS is $0.16.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
